Decade-Long Slumber Ends: Bitcoin Whale Moves $31M Treasure

• A Bitcoin whale, inactive for more than 11 years, recently transferred assets worth approximately $31 million to another wallet.
• The total holdings of 1,037.42 BTC were received in April 2012 when Bitcoin was valued at $4.92. The stash’s current value represents an increase of over 600,000%.

A Bitcoin whale, slumbering for over a decade, recently emerged from dormancy to transfer a treasure trove worth more than $30 million in Bitcoin (BTC) to another address. This vast wealth was acquired in mid-April 2012 when Bitcoin was valued at less than $5.

From Dormancy to Action: The Whale’s Awakening

On July 22, as brought to light by Lookonchain, this enigmatic Bitcoin entity, dormant for over 11 years, relocated assets amounting to roughly $31 million (estimated at prevailing rates) to a wallet bearing the “bc1qt180” abbreviation.

On April 11, 2012, the total cache of 1,037.42 BTC was amassed when the frontrunner of digital assets traded at $4.92. The current valuation of this stash, driven by Bitcoin’s price surge over the years, is now an astonishing 606,000% higher.

A BTC whale that has been dormant for 11 years transferred all 1,037.42 $BTC($37.8M) to a new address"bc1qtl" an hour ago.

The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8

— Lookonchain (@lookonchain) July 22, 2023

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A plethora of Twitter users, perplexed by the whale’s actions, engaged in spirited discussion below the post. A few speculated that the Bitcoin investor might have lost their private keys or suffered a temporary security breach.

Some observers suggested that the Bitcoin investor missed the optimal window to reactivate their holdings by a margin of two years, referring to the peak of Bitcoin’s price at that time.

Drawing parallels with other similar movements, CryptoPotato previously reported another hibernating whale that stirred after nine years in April this year. This entity transferred 2,071.5 BTC to a new address, a stash that amounted to over $60 million at the time of the transaction but was worth only $1.3 million in 2013. This recent awakening of a long-dormant Bitcoin whale underscores the continued and significant activity within the Bitcoin ecosystem.